Load King Manufacturing transferred $265,000 of costs from the Work in Process Inventory account to the Finished Goods Inventory account during the month.The company's inventory balances follow: $$\begin{array} { l l l }
& \text { Beginning } & \text { Ending } \
\text { Work in Process } & \$ 22,000 & \$ 25,400 \
\text { Finished Goods } & \$ 31,500 & \$ 29,200
\end{array}$$ How much is cost of goods sold for the month?

Question

Load King Manufacturing transferred $265,000 of costs from the Work in Process Inventory account to the Finished Goods Inventory account during the month.The company's inventory balances follow: $$\begin{array} { l l l } 
& \text { Beginning } & \text { Ending } \
\text { Work in Process } & \$ 22,000 & \$ 25,400 \
\text { Finished Goods } & \$ 31,500 & \$ 29,200
\end{array}$$ How much is cost of goods sold for the month?

Quizplus · Accepted Answer

The Answer of Load King Manufacturing transferred $265,000 of costs from the Work in Process Inventory account to the Finished Goods Inventory account during the month.The company's inventory balances follow: $$\begin{array} { l l l } 
& \text { Beginning } & \text { Ending } \
\text { Work in Process } & \$ 22,000 & \$ 25,400 \
\text { Finished Goods } & \$ 31,500 & \$ 29,200
\end{array}$$ How much is cost of goods sold for the month?

Load King Manufacturing Transferred $265,000 of Costs from the Work